June 22, 2018
BUYSIDE: We cannot trust our brokers, and we cannot be bothered to figure out how to evaluate them, or to change to brokers we can trust. Lets regulate the exchanges.
BROKERS: We cannot trust ourselves, we dont want to have to disclose institutional data through a revised 606 report, and if we changed our behavior it would affect our margins. Lets regulate the exchanges.
EXCHANGES: Are we the only ones who see how ridiculous this situation is?